Ninth Wave establishes Managed Services branch for expediting Open Finance integration
In a bid to establish banks as integration-ready partners, Ninth Wave, a leading provider of Open Finance connectivity solutions, has unveiled a new division named Ninth Wave Managed Services. This specialized division aims to help financial institutions rapidly deploy open and embedded finance capabilities, including ERP integrations, embedded payments, and wealth data connectivity, within a 90-day deployment timeline.
The move comes as financial institutions adopting cloud-native, API-first platforms often encounter operational challenges related to security protocols, regulatory compliance, and consumer consent frameworks. According to George Anderson, the founder of Ninth Wave, these operational hurdles are often the biggest challenges in the industry's shift towards modern, API-first infrastructure.
To address these challenges, Ninth Wave Managed Services will utilize the Plan, Build, and Operate methodology, integrating technical execution, compliance, and user adoption strategies. The division will prioritize secure, API-first connectivity across ERP platforms like NetSuite, Sage, and Microsoft Dynamics.
Steve Schick, the head of Ninth Wave Managed Services, brings a wealth of experience to the new role. Schick, who was Amazon Web Services' first enterprise-level hire focused exclusively on financial services, has extensive experience in financial services cloud technology. In his previous role at AWS, he addressed early industry concerns regarding cloud security for regulated institutions.
With Schick at the helm, Ninth Wave Managed Services will focus on helping financial institutions execute transitions with reduced risk and adherence to compliance requirements. The service will also support real-time payments using entitlement-driven workflows that automate manual processes, enhancing operational efficiency for financial institutions.
One of the key benefits of Ninth Wave Managed Services is enhanced wealth data connectivity, particularly for high-net-worth households. This capability will enable better access and integration of wealth management data, improving the overall financial management experience for these clients.
In a statement, Schick expressed his excitement about contributing to Ninth Wave's mission of simplifying open and embedded finance for financial institutions and their account holders. He also emphasized his focus on expediting execution with reduced risk and increased impact.
In conclusion, Ninth Wave Managed Services offers a comprehensive solution designed to help financial institutions efficiently implement and scale open and embedded finance solutions securely and compliantly. By providing operational expertise and support, a security and compliance focus, real-time payments and automation, enhanced wealth data connectivity, and accelerated time to market, Ninth Wave Managed Services is set to revolutionize the way financial institutions adopt and leverage modern, API-first infrastructure.
- With the focus on secure, API-first connectivity, Ninth Wave Managed Services will prioritize ERP platforms like NetSuite, Sage, and Microsoft Dynamics, addressing the operational challenges related to security protocols and regulatory compliance.
- Steve Schick, leading Ninth Wave Managed Services, will help financial institutions execute transitions with reduced risk and adherence to compliance requirements, with a focus on real-time payments using entitlement-driven workflows for enhanced operational efficiency.
- A key benefit of Ninth Wave Managed Services is enhanced wealth data connectivity, particularly for high-net-worth households, which will enable better access and integration of wealth management data, improving the overall financial management experience.
